Crypto hack: the Wormhole hacker makes a comeback a year after the facts

The attacker converts his loot into Ethereum staking token - Source: Twitter.

The hacker is back – In February 2022, the bridge wormhole connecting Solana to other blockchains collapsed in a resounding hack. Indeed, the attacker had succeeded in stealing $326 million. This makes this attack the fifth biggest in DeFi to date.

A year already and 326 million still missing at Wormhole

Wormhole is a bridge protocol that allows funds to be sent between blockchains Solana (SOL) and Ethereum (ETH). Almost a year ago, on February 2, 2022, he was the target of a hack of a rare scale. In total, the attacker stole $326 million. At the time of the events, it was the second most massive attack since the creation of the DeFi ecosystem.

As a reminder, the attacker would have taken advantage of a lack of verification in the smart contracts of the protocol. Without going into too much detail, this lack of verification when using certain functions allowed him to use fraudulent parameters, without the smart contract activating any security.

Result of the races: the attacker was able to mint thousands of wETH. Afterwards, he quickly transferred them to Ethereum, emptying the entire pools of the bridge. Fortunately, the Wormhole Bridge was quickly saved by Jump Crypto who bailed out the 120,000 ETH stolen the day after the attack.

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The Wormhole robber back in the game

For almost a year, theaddress of the attacker recorded almost no activity. However, since January 14, the hacker seems to have resumed service. In fact, this one has deposited 1,888 ETH on one of these addresses, on January 23 around 7 p.m. Subsequently, he used these funds on various DeFi protocols.

At first, the striker converted his ETH against wstETH. He then used these funds to borrow 13 million DAI. Once the DAIs are in his possession, he has them traded for more stETHa tokenized version of a staking deposit on Ethereum.

The attacker converts his loot into Ethereum staking token - Source: Twitter.
The attacker converts his loot into Ethereum staking tokens – Source: Twitter

He then repeated the process several times in what is called a leverage loop. Therefore, the hacker currently has 71,400 wstETHthat is $128 million deposited in staking on Ethereum.

At the same time, on the Solana blockchain, the thug undertook to to sell all the SOLs in his possession per batch of 30,000.

The attacker resells his SOL massively.
The hacker massively resells his SOL

For their part, faced with this activity, the Wormhole teams tried to communicate with the attacker. These latter have offersonce again, a $10 million reward in exchange for the return of funds.

The Wormhole hacker behind the BNB Bridge hack?

After analyzing the actions taken by the attacker over the past few hours, some Internet users have had a feeling of deja vu. Indeed, as declared by @Spreekaway on Twitter, actions made by the Wormhole hacker are strangely similar to those carried out by the BNB bridge hacker.

Indeed, on December 23, the BNB bridge hacker converted part of his funds into liquid staking tokens to deposit the stolen ETH in staking.

Link between the Wormhole hacker and the BNB Bridge hacker?
The Wormhole hacker and the BNB Bridge hacker: one and the same person?

Recently, the North Korean hackers of the Lazarus Group have undertaken to launder funds from the Harmony Bridge hack. In total, $64 million in ETH have been moved.

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